Lake Roosevelt home sites sell for $1.76 million

WILBUR, WA – Sixty-three home sites in the Roosevelt Views subdivision overlooking Lake Roosevelt sold for $1.76 million Saturday to National Recreational Properties, an Irvine, Calif.-based real estate investment company acting through its Ocean Shores office.

The sites had been scheduled for auction later in the day, but National Recreational Properties made an advance offer that developer Gary Brown was willing to accept, according to Craig King, president of J.P. King Auction Company, Gadsden, Ala., which managed the sale.

“This ensured a complete sellout of the sites for sale, which of course was positive for the seller. And it let the buyer get the entire property, which is what they wanted, so it worked out well for everybody,” said King.

“We had a case where one buyer wanted the entire subdivision, and since we were going to conduct the auction in parcels, that was the simplest way for them. This kind of pre-auction sale occurs about 10 percent of the time,” said King.

Brown said he was “delighted” with the sale. “I’m happy as I can be,” he said.

National Recreational Properties officials indicated that they planned to either build out the subdivision or re-market the home sites, said King.

“As I understand it, they plan to study their options before making a final decision, but I think this is good news for Lake Roosevelt and the Wilbur area. The buyers take a lot of pride in their record for spurring growth,” said King.

Brown, a Snohomish resident who has been boating on Lake Roosevelt since the mid-1980s, decided to build the subdivision after spotting the land from his boat four years ago.

Since then, Brown has been busy turning the land into a subdivision, with underground utilities, streets, water rights and protective covenants.


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